- Push-out Score determined
- After less than two years in the position
- Praise for McCreight
- Crystal Landsem taking over
- McCreight will remain as Executive Chairman at Lulus
- McCreight said 79 words
(exechange) — Chico, California, November 15, 2022 — David McCreight, chief executive of Lulus, leaves his position. As announced by Lulu’s Fashion Lounge Holdings Inc. in a news release and in a regulatory filing published on Tuesday, November 15, 2022, David W. McCreight leaves his post as chief executive officer at the fashion brand for women, after less than two years in the role, effective March 6, 2023.
David McCreight’s duties as CEO will be taken over by Crystal Landsem, currently Co-President and Chief Financial Officer at Lulu’s Fashion Lounge Holdings Inc.
It is a generational change. Crystal Landsem is about 20 years younger than David McCreight.
“Lulus plans to announce its new Chief Financial Officer in early 2023”, Lulus stated.
“Planned transition”
David McCreight’s departure from the CEO post is explained as follows. Lulus said: “These executive team changes represent a planned transition to the next generation of leadership.”
McCreight will remain as Executive Chairman at Lulus
“David McCreight, currently Chief Executive Officer, will become Executive Chairman of the Board, also effective March 6, 2023,” Lulus said.
Share price decline since November 2021
The announcement follows a decline in Lulu’s Fashion Lounge Holdings Inc.’s share price of 56% since November 2021.
In the position of CEO since 2021
David McCreight became CEO of the Company in 2021.
David W. McCreight has served as Lulus’ Chief Executive Officer since April 2021 and on its Board of Directors since April 2021.
Previously, he was the CEO of Anthropologie Group, Inc. from 2011 to April 2018.
He also served as the President of URBN, Inc. from 2016 to April 2018, and as President at Under Armour, Inc. from 2008 to 2010.
He is currently a board member of CarMax, Inc., where he also serves on the audit committee, and Wolverine Worldwide, Inc., where he also serves on the governance and compensation committees.
McCreight received his Bachelor of Arts degree from the University of Virginia.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding David McCreight’s move on a scale of 0 to 10.
exechange reached out to Lulus and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 47.2022 ($).